• Broker
  • Min. Deposit
  • Min. Invest
  • Editor's rating
  • Auto Trade
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  • Review

24option Broker Review 2020

  • Min. Deposit $250
  • Min. Invest $24
  • Return 88%

24option General Information

Considering 24option is one of the most prominent and recognized names in binary options industry, providing our readers with a comprehensive 24option broker review is useful for their trading experience.

24option is in the ownership of Rodeler Limited in Limassol, Cyprus and they have been present on the binary options market since 2010.

Interested South African traders should also note that 24option is a regulated binary options broker. 

Our 24option broker review will try to deliver as many useful info about this broker so South African traders can find data referring to:

  • Trading platform
  • Trading options and expiry times
  • Trading account types
  • Customer support service and payment methods

All the information traders shall find in this 24option broker review can be used to their benefit.


24option Trading Platform

In order to start trading with 24option, South African traders need to know that the minimum deposit for this broker is $250, an industry average.

Other currencies South Africans can use are EUR, GBP, YEN or RUB, but once the currency is chosen it is not possible to change it. Minimum trading amount with 24option is, indicatively, $24 while the maximum investment is $100000.

As we continued with our inspection of 24option trading platform for our 24option broker review, we also found out that they use TechFinancials trading software, which is one of the well-known names when it comes to trading software.

24option Trading Services and Features

Furthermore, we are able to inform South African traders via this 24option broker review, that they offer variety of different trading options such as:

  • High/low
  • short term

Expiry times 24option offers together with the above mentioned trading options are: 60sec, 2 min, 5 min, 15 min, 30 min, 1 h, 24h+ and end of the month.

Assets available with 24option are sorted into 4 distinct categories and are: stocks, indices, commodities and currencies.

More than hundred underlying assets are available to South African traders for binary options trading which can be executed from Monday to Friday, from 5 am to 10 pm, which are the official trading hours of 24option.

As a binary options broker who is keeping pace with the times, 24option also offers great trading tools and features to their registered South African traders. The presence of these tools and features on their platform only serves as further proof that 24option are dedicated to providing their traders with both efficient and successful trading experience.  

Mobile trading application is an extremely useful tool, especially once we consider the pace of the modern world we all live in. Modern man is constantly moving, trying to make the most of each day, hence it makes sense to come up with a trading tool which will accommodate such a lifestyle.  

Our 24option broker review can further relate that the mobile app is compatible to be used on both Android as well as iOS devices. By putting this option to use, South African traders will be in a position to traded no matter their location as well as to use all opportunities as they appear. Trading app can also be used on tablets as well.

24option broker also offers demo account to interested South African traders. Demo is a trading feature available to 24option registered South African traders. While demo account cannot be used to directly make profit, it is a handy feature which can help traders to achieve that goal eventually.

Especially useful to South African traders who are new to binary options trading, demo account provides the opportunity to experience what binary options trading looks like but the risk which is usually present in trading is absent in this case.

The funds on demo account are virtual but everything else mimics the real trading account.

On the other hand, as we continued compiling our 24option broker review, we discovered that even experienced South African traders can benefit from demo account since they can try different trading strategies, options or to have a go with different expiry times.

24option Account Types

Always trying to offer their registered traders numerous options, 24option also has 5 different types of trading accounts. South African traders can choose between the Basic, Silver, Gold, Platinum and Diamond trading accounts.

As traders will notice as they continue reading our 24option broker review, every account is different and offers interesting features and possibilities to the traders.

24option Basic Trading Account

As the Basic account for interested traders, it covers a wide range of available trading tools and features, which include spreads (3 types) and leverage 1:200. Leverage can help traders into trading with bigger amounts, while having smaller trading portfolio.

Traders have on disposal to choose between mobile trading platform and web-based. One withdrawal in the month is free of charge as well as customer support service that is available 24 hours per day. Feature One-click trading is also included since its ability to allow traders to have trades more quicker.

South Africans are advised to check Trading Central in order to have more information about how to analyze trading data and increase chances to have profitable trades in binary options.

24option Silver Trading Account

Silver trading account included same level of trading tools as we have listed above in 24option broker review. As additional trading feature, South African traders will have opportunity to experience live trading signals which are generated in real time and reflect on relevant market trends.

Also, in 24option Silver account, traders can get assistance by contacting personal account manager in case they need any help while trading binary options or CFDs.

24option Gold Trading  Account 

According to 24option broker, Gold account is the widespread trading account due to its benefits and opportunities for registered South African traders.

In Gold account, traders are able to use following trading instruments and features, such as: leverage 1:200, several spreads, mobile trading app and one-click trading option.

In our 24option broker review, we noticed how Gold account is marked as the most popular trading account, in comparison with other ones. This account type included all trading options and feature as seen in Silver account type.

The only additional tool is possibility to receive trading signals via smartphone or sms. Just as with Silver account, traders in South Africa are able to get help from dedicated account manager, have one free withdrawal per month, features such as mobile app, one-click trading etc.

Traders will also get one free withdrawal per month and get assistance from Personal Coach who can greatly help traders into maximizing their performance in binary options trading.

South Africans will also have access to trading alerts who are delivered in real time and could be sent via email or sms.

24option Platinum Trading Account

To registered traders who choose Platinum account, 24option brokers offers a numerous trading tools. They include all tools and services which we have listed in Gold account.

Unlike previously mentioned trading accounts, in Platinum one, there is no withdrawal fee. This means how traders are able to withdraw funds as many times they want.

24option Diamond Trading Account

The main difference between Diamond trading account and the rest of them is in option to use customised trading platform. This enables traders to adjust tools and settings which are more suitable for them.

Also, this account type includes Juventus tickets as well as a wide range of existing trading instruments from Platinum account.



24option Customer Support Service

When trying to choose among numerous binary options brokers available on market, the quality of customer support service is not to be overlooked.

That is why we are addressing this issue in our 24option broker review. South African traders will be happy to know that 24option provides excellent customer support service and they can be reached by traders via email ([email protected]), live chat or phone (numbers available for 21 countries).

Furthermore, in order to accommodate not only South African traders but those worldwide, 24option trading platform is available in English, German, French, Japanese, Italian, Russian, Spanish, Portuguese, Arabic, Danish, Swedish, Dutch, polish, Norwegian and Finnish.  

Having educational materials available for traders has become a norm, but 24option has raised the bar since their Education section offers a sea of comprehensive, helpful materials.

Since we wanted to get as much useful info as possible for our 24option broker review, we have tested their educational section and found it to both user-friendly and superb. The whole section is so organized to explain everything included in binary trading, from basics to advanced aspects.

Additionally, it is all delivered via video tutorials which holds the attention easily and effectively. Also, traders can use an ebook which can be downloaded from their platform and they study the materials when they desire.

Lastly, there is also a calendar with clearly marked days when 24option has webinars about binary options trading.

24option Banking Info

As would be expected from a broker with such reputation, 24option offer numerous payment methods to their registered South African traders.

In our 24option broker review, we can confirm that deposits and withdrawals can be made via bank wire, credit/debit cards and e-wallets whose use has becoming more and more popular.

Debit/credit cards such as Diners, Visa, MasterCard, JCB, Visa Electron, Cartasi, Liberty Reserve, Dankort etc.

Skrill, Neteller are available e-wallets to be used as payment methods. PaySafeCard has also been made available to South African traders.

Minimum withdrawal amount is $100 and 24option does charge a withdrawal fee and depending on the method, the fee is 3,5% for credit cards, $30 for bank wire and 2% for Skrill.

It takes up to 5 business days for the funds to be visible on traders account.

However, bearing in mind that traders also have to perform sensitive financial transactions but also submit personal data (copy of the credit card, copy of ID photo, proof of address), South African traders need to know that all data is safe and adequately protected.

128bit Secure Socket Layers is used in order to encrypt all the data being exchanged between the traders and the trading platform (broker). The green letters HTTPS and a green padlock in the URL are a further proof that the site is safe.

24option - Review Conclusion

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